John Smedley, former CEO of Daybreak Game Company, is entering the Web3 gaming space with a new AAA shooter titled ‘Reaper Actual,’ built on Tezos’ layer-2 blockchain, Etherlink. His studio, Distinct Possibility Studios (DPS), has secured $30.5 million in funding from Bitkraft and Brevan Howard to develop the game, which will feature tradable Web3 components like characters, skins, and bases. This marks a significant move in blockchain gaming, blending high-end game development with decentralized asset ownership.
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Sui’s DEX Volume Hits Record High Despite SUI Token Slump
Sui’s decentralized exchange (DEX) activity reached an all-time high in Q1 2025, with average daily volume hitting $304.3M—a 14.6% quarterly increase. Cetus and Bluefin dominated, contributing $239.5M daily. Despite this growth, SUI’s market cap plummeted 40.3% to $7.2B, underperforming the broader crypto market. Network fees also dropped sharply by 33.3% to $3.6M, reflecting reduced on-chain activity. NFT trading remained strong, with 13.2M SUI in volume, while institutional interest grew via Grayscale’s inclusion of SUI and Libre Gateway’s launch. However, Q2 faced setbacks after a $223M exploit on Cetus disrupted trading, pending a community vote for recovery.
read moreInstitutional Bitcoin ETF Holdings Decline as Corporate BTC Reserves Rise
Q1 2025 13F filings revealed a decline in institutional holdings of spot Bitcoin ETFs, with hedge funds like Millennium Management and Brevan Howard reducing exposure. The collapse of the BTC futures basis trade, which had fueled early demand, contributed to the shift. However, long-term investors, including sovereign wealth funds and endowments, increased positions. Meanwhile, corporate Bitcoin reserves gained traction, with firms like Trump Media Group and GameStop opting for direct holdings over ETFs. Despite the pullback, Bitcoin ETF assets remain substantial at over $120 billion, though growth may slow as arbitrage-driven strategies fade. The next 13F cycle in July will provide further clarity on institutional trends.
read moreLibre Tokenizes $500M Telegram Debt on TON Blockchain
Libre, a leading tokenization platform, is digitizing $500M of Telegram’s institutional debt on the TON blockchain through the Telegram Bond Fund (TBF). This fund provides accredited investors exposure to $2.35B in Telegram bonds while enabling DeFi utility such as collateralization and liquidity. Libre, backed by institutional giants like Brevan Howard and Nomura’s Laser Digital, aims to enhance traditional financial instruments with blockchain functionality. The move highlights the growing trend of real-world asset (RWA) tokenization, combining structured finance with decentralized ecosystems. TON’s integration with Telegram’s massive user base further strengthens its role in blockchain-based financial infrastructure.
read more$500M Telegram Bond Fund Launches on TON Blockchain
The TON Foundation and regulated RWA platform Libre have introduced a $500 million Telegram Bond Fund, enabling institutional investors to access Telegram’s $2.4 billion corporate debt via the TON blockchain. The fund combines traditional finance yields with blockchain efficiency, managed through Libre’s infrastructure, which supports fiat and stablecoin transactions under regulatory oversight. Investors can participate in future Telegram bond offerings and use the fund for collateral and yield strategies within TON. This launch highlights the growing RWA sector, projected to surpass $50 billion in 2024, as major players like BlackRock and Circle expand tokenized Treasury and asset offerings. The fund underscores the convergence of institutional finance and decentralized ecosystems.
read moreFamily Offices Prefer Ethereum ETPs Over Bitcoin
Family offices allocate nearly five times more to Ethereum ETPs (0.62% of AUM) than Bitcoin ETPs (0.13%), reflecting a distinct preference among smaller, flexible investors. While Bitcoin dominates overall institutional AUM—led by hedge funds (36.97%) and investment advisors (33.11%)—Ethereum ETPs see more balanced ownership across brokerages (25.25%), advisors (29.79%), and hedge funds (24.74%). Top holders also differ: Millennium Management leads in Bitcoin ($4.42B), while Goldman Sachs tops Ethereum ($477M). The data underscores Bitcoin’s institutional dominance but reveals Ethereum’s appeal to a broader, more diverse investor base.
read moreInstitutions Pilot Tokenized Fund Collateral Platform
Standard Chartered, OKX, and Franklin Templeton have introduced a pilot trading platform allowing institutional clients to utilize crypto and tokenized money market funds as collateral in off-exchange transactions. The platform integrates Franklin Templeton’s on-chain tokenized assets, with OKX facilitating trading workflows. The framework, operating under Dubai’s VARA regulations, emphasizes security, compliance, and capital efficiency, with Standard Chartered acting as custodian and OKX managing collateral execution. Brevan Howard Digital is an early participant, highlighting institutional demand for compliant digital asset infrastructure. The collaboration aims to accelerate adoption of tokenized instruments in institutional trading while ensuring regulatory safeguards and custodial segregation.
read moreBrevan Howard Invests 20 Million in Ethereum-Based Kinto for DeFi Expansion
Brevan Howard’s crypto division has invested $20 million in Kinto, an Ethereum-based platform, as part of its strategy to enhance institutional participation in decentralized finance (DeFi). This move underscores the growing interest in DeFi solutions among major financial players. The firm aims to leverage Kinto’s capabilities to further its objectives in the evolving digital asset landscape.
read moreMovement Labs seeks 100 million raise at three billion valuation
Movement Labs, a developer of a layer 2 Ethereum blockchain utilizing Facebook’s Move language, is reportedly seeking to raise $100 million in a Series B round, valuing the company at $3 billion. The funding round is expected to be co-led by CoinFund and Nova Fund, following a $38 million Series A round in April. The company aims to enhance transaction speeds and reduce costs, claiming its technology can achieve up to 160,000 transactions per second compared to Ethereum’s average of 15.
read moreBitget Lists Bluefin in Innovation and DeFi Zone with Special Promotion
Bitget has announced the listing of Bluefin (BLUE) in its Innovation and DeFi Zone, with deposits open now and trading starting on December 31, 2024. Bluefin, a decentralized trading platform on the Sui blockchain, has achieved over $40 billion in trading volume since its launch in September 2023. To celebrate the listing, Bitget is offering a 7-day promotion for users to purchase BLUE with 0% fees using credit or debit cards.
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